Saturday, 9 April 2011 at 11:27, Reuters, Abu Dhabi
National Bank of Abu Dhabi said on Saturday its leasing unit finalised a Dh404 million ($110 million) financing for National Petroleum Construction Company (NPCC) to construct and lease a new vessel.
Abu Dhabi National Leasing Co provided the seven-year financing for the vessel to be used by NPCC in its offshore operations, the bank said in a statement.
The vessel is under construction in a Chinese shipyard and is scheduled for delivery in 2012.
NPCC is 70-per cent owned by the Abu Dhabi government's General Holding Corporation and 30 per cent by Consolidated Contractors Group.
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